Islamabad, The Securities and Exchange Commission of Pakistan (SECP) has announced new amendments aimed at enhancing corporate governance among listed companies, with a specific focus on sustainability, diversity, and inclusion. These modifications to the Listed Companies (Code of Corporate Governance) Regulations, 2019, aim to integrate environmental, social, and governance (ESG) considerations into the core operational strategies of these entities.
According to Securities and Exchange Commission of Pakistan, the updated regulations will mandate corporate boards to take a proactive role in incorporating ESG elements into their strategic planning. Boards will be tasked with establishing a company’s sustainability strategy, setting relevant priorities, and identifying clear targets. This initiative is designed to align corporate practices with emerging global standards on ESG matters, fostering a culture of long-term value creation and stakeholder engagement.
Moreover, the SECP’s amendments are set to deepen the commitment of listed companies to diversity and inclusion. Boards are expected to champion gender equality and broaden the scope for women’s participation at all corporate levels. The introduction of a mandatory sustainability committee, which must include at least one female director, signifies a concrete step towards institutionalizing gender balance and inclusivity within corporate governance structures.
The proposed changes reflect the SECP’s resolve to position Pakistani companies at the forefront of global trends emphasizing the integration of sustainability and diversity within corporate frameworks. By adopting these measures, boards are expected to not only enhance their companies’ ethical and environmental footprints but also secure a competitive advantage in an increasingly conscientized marketplace.
Islamabad, In a significant meeting held today, U.S. Ambassador Donald Blome engaged with Pakistan’s Finance Minister Muhammad Aurangzeb to deliberate on enhancing U.S. assistance for Pakistan’s economic reforms. The discussions centered on advancing cooperation to bolster Pakistan’s financial management, focusing on tax administration enhancements and fostering a better investment milieu.
According to Embassy of the United States of America, Ambassador Blome articulated the U.S. government’s endorsement of Pakistan’s endeavors with the International Monetary Fund (IMF) to fulfill its Stand-By Arrangement (SBA) commitments. This meeting reflects the ongoing collaboration between the two nations, aiming to stabilize and grow Pakistan’s economy.
In addition, Ambassador Blome emphasized the United States’ commitment to deepening economic ties with Pakistan, targeting areas of mutual interest that promise growth and stability. These collaborative efforts signify a strategic partnership aimed at supporting Pakistan’s economic landscape and ensuring sustainable development.